Due to the short timescale for the purchase and completion of an auction property, long term financing such as mortgages can be difficult to put into place quick enough to meet deadlines. However, there are other options of financing your purchase. Auction House has teamed up with three national specialist lenders that can provide short term bridging loans, designed for auction purchases, making them an ideal option whether you are looking to buy residential or commercial property. They pride themselves in providing a quick turnaround of funds, which can be agreed before, during or after the auction, to guarantee funds will be available in time for completion. This then allows you time to arrange a mortgage or another long term funding solution that is right for you.
The three lenders that Auction House works closely with are Together, Bridging Finance Solutions Limited and Watts Commercial Finance.
Call 0161 933 7161 or
Call 0151 639 7554 or
Call 0844 848 2993 or
All three lenders like to offer a personal service. You will be assigned an experienced and professional case manager to handle your requirements from initial enquiry to loan completion.
All three lenders aim to provide a full decision in principle the same day as receiving your enquiry. They will also provide full, details terms for the particular loan.
Each loan is assessed on its individual merits and can be tailored for your specific requirements. Their rates and fees are competitive in the market and will be outlined from the start of your enquiry process.
The lenders do not require business plans or cash flow forecasts, and can be open minded when it comes to credit history. The loans are offered and secured against the value of the property.
Funds can normally be made available within 7-10 days, so with a supportive solicitor, you could be able to complete within a week of your initial enquiry.
Loans can be organised before, during or after the auction, meaning you have the flexibility to organise your finance when you wish, and valuations can be carried out after a successful bid at auction.